Keyword: oil

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  • Maryland Attorney General Frosh Using Subpoenas to try to Silence Political Debate

    06/30/2016 12:51:38 PM PDT · by Tolerance Sucks Rocks · 20 replies
    MCGOP ^ | June 28, 2016 | Mark Uncapher
    Maryland Attorney General Brian Frosh recently joined 16 other state Attorneys General to launch, in their own words, “an unprecedented, multi-state effort to investigate and prosecute the ‘high-funded and morally vacant forces’ that have stymied attempts to combat global warming—starting with holding ExxonMobil and other industry giants accountable for fraud and suppression of key climate science.” In explaining his support of “AGs United for Clean Power,” Frosh said: “There is no doubt that climate change is an existential threat to our society and to our entire planet….I am deeply troubled that oil companies have contributed to the problem by intentionally...
  • U.S. Shale Producers Just Won Their Biggest Legal Case In Years

    06/27/2016 5:57:33 PM PDT · by 2ndDivisionVet · 5 replies
    Oil Price ^ | June 23, 2016 | Dave Forest
    Fracking is once again becoming a hot topic in the oil and gas world., with Germany moving Tuesday to impose an indefinite ban on the unconventional drilling technique. But in the U.S. this week the story was the opposite. Oil and gas drillers won a critical legal victory over the future of fracking in America’s shale plays. That came in Wyoming, where a District Judge struck down a set of tougher rules on fracking that had been implemented by the U.S. Bureau of Land Management (BLM) early last year. Last March, the BLM came down hard on the U.S. shale...
  • Jerry Brown’s vow to slash oil use in California’s cars in trouble

    06/22/2016 12:20:04 PM PDT · by Mariner · 26 replies
    The Sacramento Bee ^ | June 22nd, 2016 | By Dan Walters
    The meltdown of California’s cap-and-trade system of reducing carbon emissions has not only thrown its climate change crusade into disarray but caused collateral damage. One victim is Gov. Jerry Brown’s $3.1 billion plan to spend auction proceeds, now on indefinite hold. It not only affects a $500 million allocation for Brown’s bullet train project, but another $500 million for “low carbon transportation and fuels.” The latter is a centerpiece of Brown’s very ambitious drive to reduce petroleum use in auto travel – the largest single source of California’s carbon emissions – by 50 percent by 2030 even though the Legislature...
  • Rebellious Democrats disrupt House, stage protest over guns

    06/22/2016 2:56:18 PM PDT · by Olog-hai · 62 replies
    Associated Press ^ | Jun 22, 2016 5:08 PM EDT | Matthew Daly
    Rebellious Democrats shut down the House’s legislative work on Wednesday, staging a sit-in on the House floor and refusing to leave until they secured a vote on gun control measures before lawmakers’ weeklong break. Exasperated Republicans were forced to recess while cutting off cameras that showed the protest. But in an unprecedented step, C-SPAN used live video feeds from one lawmaker’s Periscope account and another’s Facebook page to transmit words and images from the House. Nearly 100 Democrats led by Georgia Rep. John Lewis demanded a vote on measures to expand background checks and block gun purchases by some suspected...
  • RADICAL JIHADIS Assault Restaurant Patrons in Philly, Screaming: “We Belong to ISIS!” (VIDEO)

    06/22/2016 3:23:57 PM PDT · by blueyon · 57 replies
    the gateway pundt ^ | 6/22/16 | Jim Hoft
    On June 11th at 4 AM five assailants were captured on security camera assaulting restaurant patrons outside Geno’s Steaks. The jihadis beat the restaurant patrons screaming, “Don’t mess with us, we belong to ISIS!” The Philadelphia police released this report: "On June 11, 2016 at approximately 4:15 am, five (05) unknown males were captured on surveillance video outside 1219 South 9th Street assaulting the victims. After the assault the suspects fled in two (02) vehicles, a dark colored pickup truck and a SUV and fled in an unknown direction. Both vehicles had New Jersey license plates. Victim #1 was struck...
  • D.C. Circuit: CAIR Must Stand Trial for Massive Fraud

    06/22/2016 3:35:03 PM PDT · by Maceman · 17 replies
    American Freedom Law Center ^ | 6-21-16 | Unknown
    The United States Court of Appeals for the District of Columbia Circuit today unanimously reversed a trial court’s ruling dismissing a fraud case brought against the Council on American-Islamic Relations (CAIR). The result of the appellate court’s ruling is that CAIR National, operating out of the District of Columbia, must stand trial and allow a jury to hear all of the evidence of the massive fraud and attempted cover up carried out by CAIR and perpetrated against hundreds of CAIR fraud victims. In January of last year, Judge Paul Friedman, the federal judge presiding over a five-year old lawsuit alleging...
  • Harry Reid backs compromise gun bill

    06/22/2016 3:48:04 PM PDT · by FR33DOM4ME · 31 replies
    Politico ^ | 6/22/2016 | Burgess Everett
    Sen. Susan Collins' attempt to keep firearms out of the hands of potential terrorists just picked up its most powerful backer yet: Harry Reid.
  • Obama administration decries judge's fracking ruling

    06/22/2016 4:46:41 PM PDT · by Olog-hai · 14 replies
    Associated Press ^ | Jun 22, 2016 1:54 PM EDT | Matthew Daly
    The Obama administration on Wednesday decried a ruling by a federal judge that blocks rules for hydraulic fracturing, saying the decision prevents regulators from using “21st-century standards” to ensure that oil and gas operations are conducted safely on public lands. Jessica Kershaw, a spokeswoman for the Interior Department, said “modernized fracking requirements” imposed by Interior Secretary Sally Jewell reflect best industry practices and are aimed at ensuring adequate well control, preventing groundwater contamination and increasing transparency about the materials used in fracking. Kershaw’s comments came after a judge in Wyoming ruled late Tuesday that federal regulators lack authority to set...
  • Nissan proposes ethanol for future fuel cell cars, to avoid hydrogen fueling

    06/16/2016 3:42:13 PM PDT · by jjotto · 23 replies
    Motor Authority ^ | June 15, 2016 | John Voelcker
    Electric cars are showing up all over the place, but hydrogen fuel-cell cars have lagged behind, with only three Asian makers committed to offering them in the U.S. That's partly because setting up a network of hydrogen stations to fuel them is slow and expensive. Now Nissan has a better idea. Rather than pumping hydrogen into the cars at very high pressure, the company proposes to offer a different kind of fuel-cell car — one that is filled with ethanol instead. That fuel, or an ethanol-and-water blend, is "reformed" to produce a supply of hydrogen on board the car itself....
  • The left’s grand, green vision

    06/12/2016 3:55:48 PM PDT · by Tolerance Sucks Rocks · 10 replies
    The Washington Times ^ | June 5, 2016 | Stephen Moore
    Like a crazed serial killer, the liberal green groups are celebrating their “victory” of putting America’s major coal producers out of business — to say nothing of the tens of thousands of miners placed in unemployment lines. Several thousand more mining jobs were lost last month. Now to get their next homicidal high, the leftists have turned their ambitions on the oil and natural gas industries. Here is how the Sierra Club spokeswoman, Lena Moffit, explains the grand, green vision: “We have moved to a very clear and firm and vehement position of opposing gas. We oppose any new gas-fired...
  • Obama calls for gun control action and DOESN'T link Orlando terror attack to Islam

    06/12/2016 1:02:42 PM PDT · by heterosupremacist · 48 replies
    dailymail.co.uk ^ | 06/12/2016 | Political Reporter For Dailymail.com
    President Obama furthered his gun control message today when addressing the massacre in Orlando that killed 50 people, making it the deadliest mass shooting in U.S. history. 'Although it's still early in the investigation we know enough to say that this was an act of terror and an act of hate,' Obama said, making no reference to ISIS or Islamic terror in his brief remarks. Obama called the shooting spree, at the gay nightclub Pulse during Pride month in the United States, a reminder of how easy it is for someone to get a hold of a weapon that could...
  • Bill Gross: $10 trillion negative yield 'supernova' will 'explode'

    06/10/2016 12:14:17 PM PDT · by BenLurkin · 15 replies
    CNBC ^ | 06/10/2016 | Jeff Cox
    Bond guru Bill Gross believes the growing global move toward negative yields will have dire consequences. In a tweet from his firm, Janus Capital, Gross goes back half a millennium to assert that the current situation with the world's debt market is unprecedented and dangerous: The warning comes as yields on Japanese government bonds and German bunds hit record lows.
  • 'There is no money left, bye!': Russian PM causes social media storm

    06/09/2016 12:16:09 PM PDT · by SaveFerris · 15 replies
    Yahooooo ^ | June 9, 2016 | CNBC
    Russian Prime Minister Dmitriy Medvedev has whipped up a storm on Russian social media for an off-the-cuff comment he made to a Russian pensioner last month. Medvedev was caught on camera telling an elderly woman in Crimea, a region annexed by Russia from Ukraine in spring 2014, that there was "no money left" in Russia's budget when he was asked why the state pension of 8,000 Russian rubles a month (around $125 a month) was not higher given the rising cost of living. "There just isn't any money now. When we find money, we'll make the adjustment," Medvedev replied to...
  • Teen Burnt Alive by Mother for Choosing Own Husband

    06/08/2016 5:57:25 PM PDT · by nickcarraway · 26 replies
    Emirates 24/7 ^ | Wednesday, June 08, 2016
    It was the third such ‘honour killing’ in as many monthsA teenager was burnt alive by her mother on Wednesday after marrying a man of her own choice, Pakistani police said. Zeenat Bibi, 16, was set on fire by her mother Perveen Bibi in the eastern city of Lahore a little more than a week after the wedding, police said. "Perveen Bibi killed her daughter Zeenat Bibi by burning her alive around 9:00 am on Wednesday," Haidar Ashraf, a senior police official told AFP, adding the teen had married a man named Hasan on May 29.
  • Rise in Starving Children Puts Strain on Venezuela’s Hospitals

    06/08/2016 5:57:45 PM PDT · by fella · 31 replies
    Panam Post ^ | 8 June 2016 | Sabrina Martin
    Doctors Now Have to Steal Food From Hospitals to Feed Their Own Families The increasing shortage of food and other basic products in Venezuela, on top of inflation, is now takingits toll on the health of the nation — most notably, on its malnourished children. Children frequently arrive to the San Felipe Central Hospital after having fainted from malnourishment, officials told the PanAm Post, and are given medicine to take three times a day, Mothers tell physicians they don’t have enough food in their homes, even after rationing. “Children under five months of age come in here with diarrhea and...
  • Robots will take over most jobs in the world by 2045

    06/06/2016 3:04:31 PM PDT · by plain talk · 87 replies
    The Economic Times ^ | Jun 6, 2016 | Techradar
    As we reach the middle of the 21st century, half the population of the world will lose their job to a machine. The latest comes from Moshe Vardi, professor at Rice University , Houston, who delivered a talk to the American Association for the Advancement of Science , exploring the question: "If machines are capable of doing almost any work humans can do, what will humans do?" Vardi reckons that half of workers across the globe will be replaced by machines within the next 30 years, wiping out middle-class jobs and "exacerbating inequality". He noted that robots would take over...
  • U.S. Crude Exports Hit 96 Year High

    06/06/2016 9:42:03 AM PDT · by bananaman22 · 12 replies
    Oilprice.com ^ | 06-06-2016 | Zain
    U.S. crude oil exports rose to 591,000 barrels per day in April, up 83,000 barrels from March, according to new data from the U.S. Census Bureau on Friday. The total figures are the highest since at least 1920, Rigzone reports. A majority of the crude - 324,000 bpd of it - went to Canada, 90,000 more went to Curacao and 36,000 others went to the Bahamas. The figures come almost six months after the U.S. government lifted restrictions on crude exports.
  • Norway Aims To Ban Sales Of Gas-Powered Vehicles By 2025

    06/06/2016 6:03:44 AM PDT · by rktman · 54 replies
    dailycaller.com ^ | 6/4/2016 | Chris White
    Norway has decided to prohibit the selling of all gasoline-powered cars by 2025, according to Norwegian newspaper Dagens Næringsliv. The ban, which has received support from political parties on the left and the right, is pegged to be the most aggressive anti-gasoline energy policies of its kind in the world – the irony, of course, is that Norway is one of the largest producers of fossil fuels in the entire world. Norwegians produced and exported in 2013 more than 1.2 million barrels of oil, placing it 14th overall on a list of exporting countries, just below Qatar and Mexico. India...
  • Oil Prices Down As OPEC Fails To Agree Output Ceiling

    06/02/2016 8:35:11 AM PDT · by bananaman22 · 10 replies
    Oilprice.com ^ | 02-06-2016 | Nick
    The much anticipated OPEC meeting in Vienna on June 2 ended pretty much as expected: the group once again failed to put any production targets in place. Without a ceiling on output, all OPEC members will continue to produce as they see fit, leaving the oil market to sort itself out. The result was largely anticipated, given the lack of agreement at several prior meetings. However, the meeting in Vienna was not without some news. OPEC members managed to agree on several small bore issues, which could be viewed as a modest success, especially after the apparent hostility on display...
  • Oil Industry Drove US Wage Growth. Now that Is Over

    06/01/2016 3:58:44 PM PDT · by bananaman22 · 9 replies
    Oilprice.com ^ | 01-06-2016 | Irina
    A report from Pew Research Center reveals that between the third quarter of 2000 and the same period of last year, wages across the U.S. rose by an impressive 7.4 percent in real terms, driven largely by the oil and gas industry. Wages in energy-dependent communities rose by the most, in some cases more than twofold, such as in Texas. This shouldn’t be surprising as the period reviewed coincides with the peak of the shale boom in the country, even though it also covers two periods of recession. But those positive effects are starting to disappear. The energy industry is...
  • Keep Oil in the Soil: Bill McKibben on Being Named by Sanders to DNC Platform Committee

    06/01/2016 10:47:29 AM PDT · by 2ndDivisionVet · 11 replies
    Democracy Now! ^ | May 26, 2016
    Bill McKibben was just named by Bernie Sanders to serve on the platform committee at this year’s Democratic National Convention. He joins Sanders’ other four appointments: scholar and racial justice activist Cornel West; Native American activist Deborah Parker; Minnesota Congressmember Keith Ellison, who chairs the Congressional Progressive Caucus; and Palestinian rights activist and scholar James Zogby, who founded the Arab American Institute. We speak with 350.org co-founder Bill McKibben about how he’ll seek to translate his activism into Democratic Party platforms in Philadelphia in July. TRANSCRIPT AMY GOODMAN: Very quickly, before we end, Bill McKibben, I want to ask you...
  • Venezuela is running out of everything: Bread, sugar, toilet paper...

    06/01/2016 1:40:39 AM PDT · by 2ndDivisionVet · 28 replies
    CNN Money ^ | May 31, 2016 | Rafael Romo and Patrick Gillespie
    Venezuela is running out of just about everything. Food, medicine, electricity, toilet paper, condoms -- you name it. And over the weekend at least two large international airlines -- Lufthansa and LATAM -- said they will suspend service to Venezuela in the coming months due to the economic crisis. The widespread scarcities and fleeing businesses reflect a country in crisis. "There's a shortage of everything at some level," says Ricardo Cusanno, vice president of Venezuela's Chamber of Commerce. Cusanno says 85% of companies in Venezuela have halted production to some extent. Venezuela's economy is spiraling into extreme recession. It is...
  • Venezuela is running out .. everything. Food, medicine, electricity, toilet paper, condoms

    05/31/2016 4:10:48 PM PDT · by george76 · 69 replies
    CNN ^ | May 31, 2016 | Osmary Hernandez
    Venezuela is running out of just about everything. Food, medicine, electricity, toilet paper, condoms -- you name it. ( Full title ). And over the weekend at least two large international airlines -- Lufthansa and LATAM -- said they will suspend service to Venezuela in the coming months due to the economic crisis. The widespread scarcities and fleeing businesses reflect a country in crisis. "There's a shortage of everything at some level," says Ricardo Cusanno, vice president of Venezuela's Chamber of Commerce. Cusanno says 85% of companies in Venezuela have halted production to some extent. Venezuela's economy is spiraling into...
  • Op-Ed: Iran is an artificial country

    05/28/2016 4:01:37 PM PDT · by Eleutheria5 · 17 replies
    Arutz Sheva ^ | 29/5/16 | Dr. Mordechai Kedar
    Iran is an artificial country which includes a large number of ethnic groups: Persians, Azars, Kurds, Turkmen, Baloch, Arabs and more.... Southwestern Iran, the Khuzistan region, is home to the Arab minority group, but that is where most of the oil and gas resources are to be found underground, right under the feet of that Arab minority. They are Shiites, exactly like the majority Persians, but are treated with disdain by the government. In the past, the region was called Arabistan to allude to the ethnic group living there, but after the 1925 Persian Conquest, the Persians changed its name...
  • 3,000 French Gas Stations Out of Fuel

    05/27/2016 8:44:54 AM PDT · by Lorianne · 25 replies
    NACS ^ | 26 May 2016
    An oil strike has forced around a fourth of the country’s stations to close because of lack of gasoline. ___ Some 3,000 gasoline stations in France—around a fourth of the country’s stations—have had to close because an oil strike has shut off their fuel supply, Telesur reports. For the first time in more than five years, France is dipping into its strategic oil reserves, while unions block refineries. Those stations lucky enough to have fuel are under government orders to restrict the sale of diesel or gasoline to around $30 per customer. Unions are picketing French refineries in protest against...
  • Why Did Saudi Arabia Kill OPEC?

    05/26/2016 9:31:53 AM PDT · by bananaman22 · 4 replies
    Oilprice.com ^ | 26-05-2016 | Len
    The OPEC meeting is only a week away, but the chances of a positive result are as remote as ever. Rising oil prices, the heightened rivalry between Saudi Arabia and Iran, and Saudi Arabia’s willingness to go it alone will make a deal all but impossible. First of all, Iran is not in a cooperative mood. According to the IEA, Iran has managed to boost oil production to 3.56 million barrels per day in April, its highest level since November 2011. Oil exports also jumped 600,000 barrels per day to 2 million barrels per day. Importantly, Iran’s output now stands...
  • Permian Basin rig count turns positive

    05/25/2016 12:53:16 PM PDT · by 2ndDivisionVet · 3 replies
    The Midland Reporter-Telegram ^ | May 23, 2016 | Trevor Hawes
    It was a positive week for the Permian Basin rig count. The nation’s most-active basin added three rigs for a total of 137. Its most-active county, Midland, added two to the tally for a total of 23 rigs, according to weekly rotary rig count data released Friday by Houston-based oilfield services company Baker Hughes. The Permian saw several counties with renewed activity, including Cochran, Schleicher and Dawson. Lynn was the only county that ceased all activity. For active areas in the Permian, there were 24 rigs in District 7C, up two; 89 in District 8, up one; eight in District...
  • Why oil and gas companies are barely scraping by

    05/20/2016 8:29:09 PM PDT · by Lorianne · 12 replies
    Yahoo News ^ | 17 May 2016 | Justine Underhill
    Last quarter, over 86% of energy sector operating profits were used to cover the interest payments on debt. U.S. energy sector (XLE) is facing $370 billion of debt, a number that has more than doubled in the past decade. But even as oil rebounds off 13-year lows, many energy companies are struggling to stay afloat. To simply make the interest payments on the debt, energy companies shelled out $16.7 billion last year—about half of their total operating profit, according to data compiled by FactSet and Yahoo Finance. The figures from the past quarter are increasingly grim: over 86% of energy...
  • Nigeria: An OPEC Country On The Brink Of Collapse

    05/23/2016 4:41:03 PM PDT · by 2ndDivisionVet · 8 replies
    Seeking Alpha ^ | May 22, 2016
    Situation in Nigeria For a country that produced nearly 2.4 million barrels of oil (NYSEARCA:USO) per day just a few months ago, Nigeria is facing some really serious issues. A militant group called the Niger Delta has disrupted the country's 2.4 million b/d of production by blowing up pipelines, hassling producers, and threatening to destroy additional oil producing facilities. As a result, Nigeria's oil production has fallen from 2.4 million b/d to 1.4 million b/d and further pressuring a growing nation more and more reliant on its oil as revenue. Nigeria is a fast growing country. Its economy is the...
  • North Dakota Spill Leaks 120,000 Gallons of Oil & Wastewater

    05/23/2016 10:00:22 AM PDT · by bananaman22 · 14 replies
    Oilprice.com ^ | 23-05-2016 | Farmer
    A site run by Denbury Onshore LLC in southwestern North Dakota has spilled more than 120,000 gallons of oil and wastewater into pastureland after a mechanical failure. Some estimated 17,000 gallons of oil and 105,000 gallons of drilling wastewater containing saltwater and chemicals leaked into pastureland near the city of Marmarth when a tank sensor failed, news agencies quoted state regulators as saying. The tank overflowed on Wednesday, and by Friday, workers were excavating the affected pastureland, which is being equated to the size of a football field.
  • Anchor: Clinton Presidency ‘Should Freak People Out,’ Will Hurt N Dakota By Targeting Fracking

    05/21/2016 3:24:42 PM PDT · by 2ndDivisionVet · 13 replies
    The Washington Free Beacon ^ | May 20, 2016 | Aaron Kliegman
    The host of a local North Dakota news show told viewers Friday that the prospect of a Hillary Clinton presidency “should freak people out” because she will badly damage the state’s economy by going after fracking, which will hurt the oil and gas industry and cost jobs. Chris Berg, the anchor of 6:30 Point of View, a show on CBS affiliate KXJB Valley News Live, discussed North Dakota’s economic struggles as Clinton’s husband, Bill, was in Fargo, North Dakota for a campaign rally. Berg explained that the North Dakota Office of Management and Budget released a revenue report on Friday...
  • Plan Calls To Limit Oil Imports (RADIO INTERVIEW)

    05/18/2016 6:05:22 PM PDT · by panhandle67 · 45 replies
    High Plains Observor Perryton ^ | 5/18/16 | Chris Samples
    Some Panhandle producers are announcing a proposal to try to limit oil imports to attempt to boost the American oil industry. So, how much are we importing now and why, if we can produce all we need domestically? Dr. Daniel Fine, associate director for New Mexico Energy Policy, is helping lead the effort and recently spoke with KXDJ’s Chris Samples. “How much? It is increasing,” said Dr. Fine.
  • The Left’s Jihad against American energy

    05/18/2016 5:20:12 AM PDT · by Kaslin · 4 replies
    Townhall.com ^ | May 18, 2016 | Ken Blackwell
    This election season has created an unprecedented alliance between the environmental Left and the anti-free market movement. The result is a well-funded juggernaut adept at conducting coordinated and sophisticated assaults on American businesses while attempting to influence crucial elections. Their goals are nothing short of shuttering our American manufacturing industry, halting the production of affordable energy and placing a ruling clique of radicals in office.One such tactic focuses on intimidating universities and other institutions into divesting their financial holdings of fossil fuel investments. Activists behind this campaign talk candidly about how they hope to “revoke the social license” of energy...
  • 'We want food!': Venezuela crisis deepens

    05/18/2016 10:55:31 AM PDT · by Red Badger · 105 replies
    www.globalpost.com ^ | May 18, 2016 | Staff
    It was around noon when a food truck rolled up to a Venezuelan state-subsidized supermarket in the town of Guarenas just east of the capital. But, to the fury of the long line of people waiting out front, the cargo wasn't unloaded. Instead soldiers took it away. "We want food!" the crowd roared in protest, to no avail. Some tried to run after the truck. Under the state of emergency imposed by President Nicolas Maduro, the military, along with government-organized civilian committees, ensures that food packets are delivered door-to-door in order to -- as officials say -- cut out black...
  • Delta Air Lines Plans To Trim Capacity Growth And Hike Fares

    05/18/2016 10:22:31 AM PDT · by bananaman22 · 22 replies
    Oilprice.com ^ | 18-05-2016 | Flying Dutchman
    In the second part of the year, Delta Air Lines aims to boost its fares as it faces rising fuel costs and barriers to revenue. Delta Air Lines presented its investors some new strategies for the second part of the year that will trim its capacity growth plan—a plan that eventually could end with higher fare prices. According to Delta, it hopes to become “the first network carrier to return to positive unit revenue growth later this year.”
  • Shell working to repair leak that spilled 2,000 barrels of oil into Gulf of Mexico

    05/17/2016 9:39:24 PM PDT · by Roos_Girl · 9 replies
    The Guardian ^ | May 16, 2016 | Oliver Milman
    Shell has said it has begun work to repair a fault in a flowline that has resulted in around 2,000 barrels worth of oil spewing into the Gulf of Mexico. More than 88,000 gallons of oily-water mixture has been released from the Glider Field, a group of four underwater oil wells located around 97 miles south of Port Fourchon in Louisiana. The company said it suspects a line connecting these wells to a Shell platform leaked oil on Thursday, creating a 13 mile-wide slick on the surface of the water. Shell said the oil is not expected to reach the shoreline and...
  • "Countless Wounded" After 5,000 Loot Supermarket Looking For Food [Venezuela]

    05/16/2016 2:17:07 PM PDT · by Lorianne · 36 replies
    Zero Hedge ^ | 15 May 2016 | Tyler Durden
    As pure desperation has set in, crime has becomes inevitable. A man accused of mugging people in the streets of Caracas was surrounded by a mob of onlookers, beaten and set on fire, who published a pixeled-out but still graphic video of the man burning as mob justice is now the supreme arbiter of who lives and who dies: "Roberto Fuentes Bernal, 42, was reportedly caught trying to mug passersby in the Venezuelan capital and before police arrived at the scene, the crowd took the law into their own hands." The video can be seen here. Now, in the latest...
  • Moody's Downgrades Saudi Arabia on Lower Oil Prices

    05/15/2016 12:33:12 AM PDT · by nickcarraway · 8 replies
    Jakarta Post ^ | Sun, May 15 2016
    Saudi Arabia's credit rating has been downgraded by Moody's because of the long and deep slump in oil prices. Moody's Investors Service said Saturday that it also downgraded Gulf oil producers Bahrain and Oman. It left ratings unchanged for other Gulf states including Kuwait and Qatar. Saudi Arabia is the world's largest oil exporter. Moody's cut the country's long-term issuer rating one notch to A1 from Aa3 after a review that began in March.
  • Oil prices in light of oil sands shutdown, oil strike in Israel

    05/14/2016 10:16:24 AM PDT · by Sean_Anthony · 4 replies
    Canada Free Press ^ | 05/14/16 | A. Dru Kristenev
    Fire feeds on oil: In the world of eco-terrorism, Islamic terrorism, it doesn't make much difference: Pitch western civilization backward a thousand years into another dark age A number of seemingly disparate variables are influencing the world’s volatile equation of oil and fire, needing just a spark to ignite a conflagration. And one of huge proportions has been blazing well to the north of us in Alberta, consuming the tinder dry landscape surrounding Ft. McMurray, the hub of Canada’s oil sands development. Initial cause of the fire is yet undetermined, investigators employing drones to examine the hundreds of square miles...
  • Trump taps climate change skeptic, fracking advocate as key energy advisor

    05/13/2016 10:51:57 AM PDT · by maggief · 94 replies
    Reuters ^ | May 13, 2016 | VALERIE VOLCOVICI
    Republican presidential contender Donald Trump has asked one of America's most ardent drilling advocates and climate change skeptics to help him draft his energy policy. U.S. Republican Congressman Kevin Cramer of North Dakota - a major oil drilling state - is writing a white paper on energy policy for the New York billionaire, Cramer and sources familiar with the matter told Reuters. Cramer was also among a group of Trump advisers who recently met with lawmakers from western energy states, who hope Trump will open more federal land for drilling, a lawmaker who took part in the meeting said. Cramer...
  • Energy industry sues over grouse plans ( Colorado )

    05/13/2016 7:12:39 AM PDT · by george76 · 4 replies
    Grand Junction Media ^ | May 12, 2016 | Dennis Webb
    Oil and gas industry groups on Thursday sued federal agencies over revisions to land management plans in Colorado and other western states to protect the greater sage-grouse. The Western Energy Alliance and the North Dakota Petroleum Council filed the suit in North Dakota, saying the Bureau of Land Management and U.S. Forest Service failed to follow proper procedures for public involvement in adopting the land use plan amendments. They also say the plans ignore sound science and will hurt western economies. Plan revisions being challenged include ones in northwest Colorado, where greater sage-grouse habitat substantially overlaps with oil and gas...
  • Oil Hits 6-Month High on Crude Inventory Draw

    05/11/2016 3:27:10 PM PDT · by bananaman22 · 9 replies
    Oilprice.com ^ | 11-05-2016 | Charles
    Crude oil futures rose 3.5 percent in mid-afternoon trading on Wednesday, following official data earlier in the day showing a 3.4-million drop in crude inventories and a fall in crude output to 8.8 million barrels per day, the lowest since the fourth quarter of 2014. June deliveries of West Texas Intermediate (WTI) were up US$1.57, or 3.5 percent, settling at US$46.23 per barrel on the New York exchange. This jump is higher than any closing price the commodity has seen since November of last year.
  • 90% Off Sale On Offshore Drilling Rigs?

    05/11/2016 2:56:12 PM PDT · by bananaman22 · 6 replies
    Oilprice.com ^ | 11-05-2016 | offshore
    It might not be a great time to start offshore drilling, with oil prices as depressed as they are, but it might just be a great time to buy an offshore drilling rig for a cut-rate price—in fact, you might be able to get one for only one tenth of what they cost in 2011. This is the cost coup recently pulled off by Ocean Rig, a company controlled by shipping billionaire George Economou, who has landed a drillship—the Cerrado—for only US$65 million at auction, which represents less than 10 percent of the estimated price when it was built over...
  • Shell Evacuates Oil Personnel After Chevron Platform Bombing

    05/11/2016 1:39:36 PM PDT · by Lorianne · 15 replies
    Oil Price ^ | 09 May 2016
    Shell has evacuated nearly 100 essential oil personnel from a major production facility in the Niger Delta, following a series of attacks from a newly formed militant group that has vowed to renew the fight abandoned after a 2009 amnesty deal. Some 98 Shell personnel were airlifted from the Shell-operated Eja Oml 79 oil production facility in the Niger Delta over the weekend, bringing into question the facility’s 90,000 barrel-per-day production capacity. The facility is run by Shell’s Nigerian subsidiary, SPDC (Shell Petroleum Development Corporation). The evacuations come after militants of the Niger Delta Avengers attacked an offline oil platform...
  • Big Oil Abandons $2.5 Billion in U.S. Arctic Drilling Rights

    05/11/2016 6:29:09 AM PDT · by Lorianne · 12 replies
    Source material cannot be posted to FR | 10 May 2016
    see link below
  • Grassroots Campaign Launched to Restrict Imports

    05/10/2016 5:00:14 PM PDT · by panhandle67 · 7 replies
    OILMAN ^ | 5/4/16 | EDITORIAL BOARD
    The Panhandle Producers and Royalty Owners Association in partnership with other oil and natural gas supporters launched a grassroots campaign this week aimed at limiting foreign imports of oil. The plan, which was unveiled at forums in Amarillo, Texas, and Artesia, N.M., calls for import quotas that would be established during the first 90 days of the country’s next President’s administration. Mexican and Canadian imports would be exempt. “American oil is competing against a cartel of government operators which has a stated initiative of driving an American industry out of business,” said Tom Cambridge, a Panhandle producer and campaign supporter....
  • What OPEC Has To Fear From The New Saudi Oil Minister

    05/10/2016 3:45:13 PM PDT · by bananaman22 · 2 replies
    Oilprice.com ^ | 10-05-2016 | Ali
    In a surprise move, Saudi Arabia sacked its long-time oil minister over the weekend, an event that illustrates the near-total control that the new young Saudi prince has obtained over the country’s energy industry. For many years, Ali al-Naimi, the outgoing Saudi oil minister, was the voice of Saudi Arabia’s oil industry and policy. Even seemingly insignificant remarks from al-Naimi could move oil prices up or down. But the 80-year old oil minister has seen his power eclipsed by the 30-year old Deputy Crown Prince Mohammed bin Salman. In April, when al-Naimi was forced to backtrack on the Doha oil...
  • Libya’s Oil Exports Could To Go To 0 bpd Within One Month

    05/10/2016 11:57:07 AM PDT · by bananaman22 · 4 replies
    Oilprice.com ^ | Libya oil
    Libyan officials attached to the government in Tripoli are warning that the country will have to halt the majority of its output from southeastern fields within a month’s time as the Hariga port remains under blockade over an export dispute between rival governments. Fields in the south-east which provide the majority of the Libyan oil output will be shut down in a month unless blockade on the Mediterranean Sea terminal Marsa el-Hariga if lifted, officials in Tripoli have warned on Tuesday. Factions loyal to the eastern government in Tobruk, and the parallel National Oil Company in Benghazi, have been in...
  • Saudi Arabia To List Aramco Shares In New York, London, Hong Kong

    05/09/2016 2:57:12 PM PDT · by bananaman22 · 3 replies
    Oilprice.com ^ | 09-05-2016 | Ahmed Al Chemicali
    Saudi Arabia revealed more details about its planned initial public offering of the state-owned oil company Saudi Aramco. As part of Deputy Crown Prince Mohammed bin Salman’s vision to diversify the Saudi economy over the next decade and a half, the IPO of Aramco could raise cash while also making the company more transparent. The Telegraph reported that Saudi Aramco plans a three-way listing, with shares listed in London, New York, and Hong Kong. Also, Aramco hopes to convince some of the oil majors, including ExxonMobil, BP and China’s Sinopec, into taking “strategic stakes” in Aramco, “offering them long-term access...
  • The Age of Cheap Oil and Natural Gas Is Just Beginning

    05/09/2016 11:14:20 AM PDT · by samtheman · 26 replies
    scientificamerican.com ^ | May 3, 2016 | Marian Radetzki, Roberto F. Aguilera
    But we believe the period of excessively high oil prices has come to an end. The international spread of two revolutions will assure much ampler oil supplies, and will deliver prices far below the highs that reigned between the end of 2010 and mid-2014.